A California federal judge on Thursday denied a motion by Samsung Electronics Co. Ltd. arguing that under the U.S. Supreme Court's Alice Corp. decision, two Apple Inc. smartphone patents are invalid for claiming abstract ideas, ruling that Samsung waited too long to raise the issue.
Hyundai Motor America and Kia Motors America won approval from a California federal judge on Thursday for a settlement potentially worth over $255 million to resolve claims in multidistrict litigation that the companies overstated the fuel efficiency of over 900,000 vehicles.
Bank of America Corp.’s nearly $17 billion Thursday mortgage-backed securities settlement generated a large headline number for the U.S. Department of Justice, but it did little to hold the bank and its executives accountable for actions that helped lead to the financial crisis, critics said.
Bank of America Corp. on Thursday said it plans to appeal the $1.3 billion fine that U.S. District Judge Jed S. Rakoff slapped on the bank last month for defrauding Fannie Mae and Freddie Mac through a program designed to speed up mortgage issuing.
Landesbank Baden-Wuerttemberg has reached an agreement in principle with a unit of The Royal Bank of Scotland Group PLC to end litigation over alleged misrepresentations the Scottish bank made about some $243 million worth of mortgage-backed securities certificates it sold to the German lender, an attorney for the plaintiffs said Wednesday.
Family Dollar Stores Inc. on Thursday spurned an $8.9 billion offer from rival Dollar General Corp., saying "significant antitrust issues" made an earlier deal proposition — an $8.5 billion tie-up with another discount retailer, Dollar Tree Inc. — a better option.